28 December 2017 (8:16 AM IST)
27 December 2017 (9:49 PM EST)
Global stock markets have started the session with positive numbers in Asia as commodities, especially Gold, rise and Bitcoin is making headlines for crashing again.
If you are an investor, then Gold trading should be a part of your portfolio because this is a perfect hedge against big volatility in stock markets. Recently, the Bitcoin bubble had pushed Gold prices down but now, as cryptocurrencies fall and global stock markets pause near their all time high levels, Gold is creeping up again.
Asian markets are all trading positive as commodities prices rise. SGX nifty is trading highly positive, indicating a higher opening and volatile trading in Indian stock markets today.
U.S. stock markets traded in a narrow range in their overnight session and closed with minor gains. In the opening session, U.S. and European stock futures are trading slightly positive, indicating a range bound trading session in these markets.
You can check pivot trading levels of these bigger markets and see how major support and resistance levels are shaping trading trend around them.
Expect global stocks to trade within their current range. Local cues will dominate intraday trading in stock markets and the trend will remain sideways. Usually such range bound trading pattern triggers high volatility in stock markets and in such conditions, pivot trading is the best day trading strategy.
Watch the intraday support and resistance levels of your local index and trade within those levels with the short term trend.